Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $250,000 and direct labor hours to be 20,000. Actual overhead and actual direct labor hours for the year were $260,000 and 22,000 hours, respectively. Required: 1. Compute over- or underapplied overhead. 2a. Which accounts will be affected by the over- or underapplied manufacturing overhead

Anew japanese restaurant opens two blocks from your home. the owner, reiko, is a personal friend of yours. you don't particularly like japanese food, but you decide to go anyway; however, there is nothing on the menu that sounds appealing. unfortunately, it turns out that most of the people in your town don't like japanese cuisine either. reiko confides that business is not good, but she isn't sure what to do from an economic standpoint. which of the following would most likely describe adam smith's perspective on this problem? select one: a. reiko should ask the government for assistance. b. reiko should close the restaurant and find a different career. c. reiko should lay off workers and do everything herself to save money. d. reiko should add other foods to the menu and offer discounts to attract more people to her restaurant.